Tripex Overseas turnover jumps 408 pc

Mumbai, July 17: Tripex Overseas Ltd (TOL), which is engaged in manufacture of specialty chemicals and intermediates, has continued its upward movement even during the first quarter of the current fiscal, said a release issued by the Company here today.

TOL's turnover for the first quarter between the period of April-June of the current fiscal, jumped 408 per cent to Rs 1574.56 lakh from Rs 309.89 lakh for the corresponding period of the previous year.

The gross profit during the first quarter jumped 473.73 per cent to Rs 289.24 lakh from Rs 50.45 lakh for the corresponding period of the previous fiscal.

After making statutory provisions for interest of Rs 3.26 lakh, depreciation Rs 18.42 lakh, and taxation Rs 97.36 lakh, the net profit almost tripled to Rs 191.88 lakh from Rs 50.45 lakh.

Taking into account the small paid up capital of Rs 804.43 lakh, the Earning Per Share (EPS) for Q1 jumped to Rs 2.39 from Rs 0.99 for the previous corresponding period.

Looking at the current global demand for Company's speciality dyes and chemicals as well as excellent Q1 results, the Company expects considerable improvements in both top and bottomline growth during the remaining period of the current financial year, said the Company's CMD Ashok Jain.

Meanwhile, the Company is going ahead with its acquisition of Bharuch and Ahemdabad based three chemical and dyes companies. The proposals have been submitted with Bombay Stock Exchange (BSE) and the Company expects green signal from the government soon.

The Company manufactures special and exclusive range of intermediates for dyes, pigments, pharmaceuticals, and agrochemicals.

The Company had declared 15 per cent dividend for the financial year ended March this year. It achieved net profit of Rs 220.90 lakh on a turnover of Rs 1933.55 lakh for the year ended March this year.

The final dividend will be approved by the shareholders at the forthcoming annual general meeting (AGM) scheduled on July 28.

UNI